Industry wasting data potential

06.03.2015

MHP publishes study „BIG DATA Future – Opportunities and challenges for German industry“.

Ludwigsburg, 25.02.2015 – Industrial companies in Germany have so far hardly paid any attention to BIG DATA – this applies in particular to companies in the automotive industry. They are thus leaving the huge potential of the booming quantities of data unused. This is the result of the MHP study „BIG DATA Future – Opportunities and challenges for German industry“, for which 254 decision-makers were surveyed in autumn 2014.

Many of the respondents do, in fact, believe in the opportunities provided by BIG DATA – for example addressing customers in a more targeted manner, more accurate forecasts and findings that may benefit product development. However, only six per cent of those who took part in the study declared that they had already implemented such concepts. „This paradox can be explained by the fact that the companies are currently still facing certain challenges,“ says Uwe Trost, Senior Manager at MHP and author of the study. These include, among others, a huge shortage of appropriately qualified employees, technical infrastructures that have reached their limits, and the lack of a strategy.

Uwe Trost: „The bottom line is that the market must be seen as not mature enough, and many companies are still at the beginning.“ However, in the study a top group of companies was identified that has achieved a lead over the competition. „These companies have positioned themselves and are already doing many things right. The pursuers should orient themselves by this and then act fast. For one thing is sure: BIG DATA will soon be a key competence – also for industrial companies. Whoever cannot handle large quantities of data will then hardly be able to assert themselves on the market,“ says Uwe Trost.

This press release can be downloaded  > here
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